A.P. Moller Holding Launches Voluntary Offer to Acquire and Delist Svitzer Group
In a decisive move to strengthen its portfolio and support long-term growth, A.P. Moller Holding has announced a voluntary recommended public offer to acquire all outstanding shares of Svitzer Group A/S, with the goal of taking the maritime services provider private. The offer, valued at DKK 285 per share, comes just one year after Svitzer’s listing on Nasdaq Copenhagen in April 2024.
Privatization Plan Follows Low Market Response Since 2024 IPO
The offer is made through A.P. Moller Holding’s wholly owned entity APMH Invest A/S. While Svitzer has posted strong results post-IPO, the market has failed to reflect this performance in its valuation. A.P. Moller Holding believes that the company’s growth strategy would be better supported away from the public market.
DKK 285 Per Share Offer Reflects Up to 42.5% Premium
Shareholder Backing Secured for 61% of Capital
- 42.5% premium over IPO opening price
- 31.7% premium over April 1, 2025 closing
- 31.3% premium over 3-month volume-weighted average price
- Offer adjusted for DKK 8.00 dividend if approved
- Offer contingent on >90% ownership for full delisting
Strategic Rationale: Growth, Flexibility, and Sector Consolidation
“Since Svitzer was listed, the company has consistently delivered results above expectations. However, we have not seen this reflected in the valuation of the share,” said Martin Larsen, CFO of A.P. Moller Holding. “We therefore believe that Svitzer is better supported through private ownership.”
Board Recommends Shareholders Accept the Offer
Svitzer’s independent board members have unanimously recommended that shareholders accept the offer. The company will continue to operate independently under its existing brand and leadership, while benefiting from greater financial flexibility and long-term strategic alignment with A.P. Moller Holding.
Conclusion: Public-to-Private Move to Support Long-Term Maritime Growth
As global marine services enter a new phase of consolidation, A.P. Moller Holding’s bid to take Svitzer private signals a strategic realignment focused on operational excellence, capital access, and long-term maritime competitiveness.